Andrew Tate, the well-known internet personality and entrepreneur, has made headlines with his latest announcement: he plans to leave fiat currency behind and invest a staggering $100 million into Bitcoin. In a recent post on X (formerly Twitter), Tate declared his intention to shift away from traditional banking and fiat money in favor of cryptocurrency.
“I’m done with the banks. I’m done with their money. Done with the scams,” Tate wrote in his post. His statement comes amidst growing criticism of the US dollar, which has faced significant scrutiny over the past year due to inflation and rising interest rates. Tate’s potential shift to Bitcoin is notable given his substantial net worth in USD.
Still Weighing the Decision
In a follow-up post, Tate clarified that he hasn’t yet finalized his decision, noting that he currently holds more cryptocurrency than fiat currency. However, he hinted that he might soon “leave fiat completely,” signaling a major pivot in his financial strategy.
Andrew Tate has recently become a vocal supporter of cryptocurrency. Earlier this year, in February, he proposed creating his own digital currency and backing it with $100 million of his own funds for his followers. His increasing involvement in the crypto space reflects a broader trend among high-profile individuals exploring alternative investments.
Unknown Bitcoin Holdings
While Tate’s current cryptocurrency wallet and total Bitcoin holdings remain undisclosed, his planned $100 million investment could significantly boost his portfolio. Bitcoin, the leading cryptocurrency by market cap, has been experiencing a bullish trend in 2024. With the growing popularity of Spot ETFs, Bitcoin prices are expected to rise even further later this year, potentially offering substantial returns for investors like Tate.
